Loan Application Checklist

In general, the documentation you will need includes:
Check for application fee
Property Information (if you already have a contract on a house)
Purchase Agreement.
Copy of legal description and MLS sheet.
If you are selling your current home, copy of listing contract.
If you have sold your current home, copy of settlement statement (HUD-1).

Income & Assets

Pay stubs for the last 30 days.
  For the past two years:
 

Names and addresses of each employer.

W-2s
Statements for each bank, mutual fund, and/or investment account for the last three months.
Estimated value of personal property and furniture.
  If you have made any large deposits to your accounts:
 

Explanation and source for deposit.

 If large deposit was a gift:
 

Signed gift letter (lender can supply).

 Copy of gift check.

 Copy of deposit receipt.
  If you own more than 25% of a business:
 

Corporate or partnership tax returns.
  If self-employed:
 

Tax returns for the last three years (with schedules).

 Year-to-Date Profit and Loss Statement prepared by an accountant.
  If you own rental property:
 

Tax returns for the last two years and current rental agreements.
  If you are retired:
 

Pension Award Letter.
  If you receive Social Security:
 

Social Security Award Letter.
  If you are counting child support as income:
 

Copy of divorce settlement.

 Copy of twelve months of cancelled child support checks.

Debts

Names, addresses, account numbers, balances and monthly payments on all current loans.
Explanation of credit report anomalies, including:
 

Late payments, credit inquiries in the last 90 days, charge-offs, collections, judgments and/or liens.

 Bankruptcy filed within last seven years (bring a copy of your bankruptcy papers).

VA Loans

Copy of DD Form 214, Report of Separation.

Miscellaneous

Photo ID and proof of Social Security number.
Residence addresses for the past two years.
If applicable, a copy of your divorce decree.
If you are not a citizen, a copy of the front and back of your green card.

 

 

WA #510-LO-39119


Sunset Mortgage Company 6400 SW Canyon Court Suite 100 Portland, OR 97221
Phone: Fax:

Why Title Insurance? | Why an inspection? | Contact Us | Closing costs - loans | Closing costs - Ins. | Your FICO score | Client Login | Closing Costs | Tell a Friend | News | Home | Loan App Checklist | Mortgage Saving Tips | Loan Application | The Loan Process | Fixed vs. Adjustable | Improve Your Credit Score | When to get Qualified | When to Refinance | What is a credit score? | Rates and A.P.R. | Refinancing Options | 15 vs 30 Year Mtg Calc | Mtg Tax Savings Calc | ARM vs Fixed Rate Calc | Mortgage Calculators | Our Service Area | Interest Only Calc | Holiday Saving | What is PMI? | Gifts as Downpayment | Eliminating PMI | Disputing Credit Reports | Mistakes on Your Report | Bankruptcy | Getting Your Credit Report | 401k for Downpayment | Broker vs. Loan Officer | Buyer Don'ts | Paying Your Loan Early | Homeowner Deductions | How Much You Can Afford | HUD-1 Settlement Statement | Debt-to-Income Ratios | Home Equity Lines of Credit | Are You Pre-Approved? | Second Mortgages | Home Equity Loans | 100% Financing | Improvement Loan Insurance | Hybrid Loans | Mortgage Servicing | Mortgage Tuneup | Home Price Index | Sam's TEAM Blog

Copyright © 2008 Sunset Mortgage Company
Portions Copyright © 2008 a la mode, inc.
Another XSite by a la mode, inc. | Admin Login| Terms of Use| Site Map